The President of Panama, Juan Carlos Varela said that the government of the country with the support of Ministry of Foreign Affairs will create a commission that will examine the existing financial practice, Reuters reported in the country.

According to Varela, an independent commission should include local and international experts, who will appreciate the current practices and suggest measures which the authorities of Panama "will be able to share with other countries to strengthen the transparency of financial and legal systems."

His statement followed the international response to the investigative report documents the Panamanian law firm Mossack Fonseca, which showed the connection of major figures from the offshore companies.

It became known that the Panamanian Prosecutor launches investigation after the publication of the offshore.

Earlier, media reported that the US Treasury will study the "Panamanian documents" in the search attempts to evade sanctions.